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Nevada Panel Approves PacBell Merger

December 18, 1996|Times Staff and Wire Reports

The five-member Nevada Public Service Commission voted unanimously this week to approve a $21-billion deal that would combine Pacific Bell, Nevada Bell and Southwestern Bell. Parent companies SBC Communications of San Antonio and Pacific Telesis Group of San Francisco agreed to provide at least $4 million to Nevada Bell customers since that state would not see more jobs as a result of the merger. California would become home to four new headquarters operations and the jobs that go with them. Shareholders of both companies have approved the merger, which was announced in April. But the California Public Utilities Commission and the Federal Communications Commission are still studying the deal, which is expected to become final in the first half of 1997.

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